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3 stocks to turn $100 into $1,000 in April

3 stocks to turn $100 into $1,000 in April

Despite the general fears that the retaining of high interest rates could spark a recession and severely damage the stock market, the situation has been the opposite for the most part in 2024.

Indeed, multiple asset types and classes have all been doing exceptionally well with major indices such as the S&P 500 and the Dow Jow Industrial Average (DJIA) both running near record highs and setting new all-time highs (ATH).

Individual stocks have also been performing well with the most impressive surges observable with companies involved with artificial intelligence (AI). Super Micro Computer (NASDAQ: SMCI) is particularly notable having started 2024 at $285.45 and closing at $1,023.29 on March 27.

Gold, driven by demand in India and China, stockpiling by central banks, and fears of financial and political instability, has also been turning its old resistance level of $2,000 into a new support zone.

The crypto market – driven by optimism about the Bitcoin (BTC) halving and enthusiasm over the approval of the first-ever U.S. spot BTC exchange-traded funds (ETFs) has also been rallying.

In this context of a fraught bull market – fraught as, for example, JPMorgan (NYSE: JPM) is still warning of a possible upcoming catastrophe – Finbold decided to take a look at the best 3 stocks an investor can buy in April.

MicroStrategy (NASDAQ: MSTR)

The approval of the Bitcoin ETFs in January brought forth fears that MicroStrategy’s (NASDAQ: MSTR) correlation with the world’s premier cryptocurrency might weaken and, indeed, Michael Saylor’s company went through a severe stock market bloodbath in the middle of the month.

The company – whose stock is generally seen as an alternative way to gain exposure to BTC – has since recovered and reestablished a strong correlation with the coin rising significantly as Bitcoin hit a new all-time high and falling in the subsequent correction.

In fact, for much of the year, MSTR stock has been outperforming BTC, and calculations made early in March estimated that should the cryptocurrency hit $100,000, MicroStrategy would rise to $1,796.82 – and the company has already proven that it is likely to surge significantly higher having already surpassed the forecast by nearly $200.

Given that April is set to feature the Bitcoin halving – an event expected to see BTC surge to even greater highs, MicroStrategy is also likely to see a significant rally, possibly aiming toward old all-time highs above $3,000.

All-in-all, 2024 has been a good year for MicroStrategy so far and its shares rose 180.11% since January 1 to their latest closing price of $1,919.16.

MSTR stock YTD price chart. Source: Google

Boeing (NYSE: BA)

Unlike for MicroStrategy, 2024 has been a dreadful year for Boeing’s (NYSE: BA) stock and for the passengers flying in the company’s airplanes. Years of dubious business practices led to what appears like a deluge of severe technical issues with the 737 MAX series of airplanes which – while still not fatal unlike the catastrophic 2019 crash – have led to much controversy.

Late in January, however, Jim Cramer opined that Boeing’s low valuation was anomalous and that the stock is sure to soar again. His argument can, arguably, be interpreted as “Boeing is simply too big to fail.”

The notion carries a surprising amount of merit. As of 2024, Boeing is a massive and well-connected company operating across several crucial industries – some of the most important being civilian and military aviation – and has a singular large competitor: Airbus (EPA: AIR).

While the issues associated with Boeing aircraft have led – depending on the circles one is moving in – to calls to either nationalize the company or give the Teddy Roosevelt treatment – break it into smaller, more manageable entities – both are highly unlikely despite the current Federal Trade Commission (FTC) being comparatively hands-on. 

Additionally, even should one of the scenarios play out, given that it would take place in the U.S., it would nonetheless likely be lucrative for shareholders. Still, it is ultimately probable that Boeing will undergo restructuring in the coming months and that BA shares will come out stronger on the other end.

Such prospects mean that BA’s abysmal 2024 performance – a 23.76% year-to-date (YTD) decline to $191.95 – likely constitutes a value-buying opportunity. 

BA stock YTD price chart. Source: Finbold

On the other hand, a simultaneous investment in Airbus stock could prove a savvy hedge given the firm is 21.67% in the green YTD – and is likely to continue rising while Boeing is embattled unless its aircraft also start falling out of the sky.

Viking Therapeutics (NASDAQ: VKTX)

Unlike the famous and established giants that MSTR and BA are, Viking Therapeutics (NASDAQ: VKTX) is a relative newcomer and a company on the ascendancy. 

Viking’s new obesity medication, VK2735, is, at press time, undergoing phase 1 trials and is expected to be a game changer. While the drug itself is likely years away, investors are already flocking to VKTX and the stock surged 355.91% since January 1 to $83.34.

VKTX stock YTD price chart. Source: Google

Finally, the current trend, paired with Goldman Sachs’ (NYSE: GS) projections that the weight-loss market could handily exceed $100 billion by 2030, VKTX retains significant room for growth.

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